New Delhi: Peak-hour power shortage in the country narrowed in the three months to 30 June, according to the Central Electricity Authority (CEA) data.
The peak power shortage was 13,711MW, or 12.3% of consumption, in the quarter, according to provisional data on the regulator’s website. India’s power shortage amounted to 14.6% of consumption in the same quarter last year. CEA predicts peak power shortage for the year ending 31 March will widen to 12.6% from 11.9% a year earlier, according to an undated report on its website.
RIL, Niko spent $5.98 bn on KG basin oil, gas finds
New Delhi: Reliance Industries Ltd (RIL) and partner Niko Resources Ltd have spent $5.98 billion (around Rs28,823 crore) to develop one oil and two gas discoveries in the Krishna-Godavari basin as of March, the government said. The explorers paid the government $510,000 as its share of profit from the sale of crude from the oil field off the east coast between September and March, petroleum and natural gas minister Murli Deora said in a written statement in Parliament on Monday.
ONGC delays developing 66 small oil, gas fields
New Delhi:Oil and Natural Gas Corp. Ltd (ONGC) is delaying the development of as many as 66 small discoveries because production from the fields may not be enough to recover costs.
“These are marginal fields and we have to prioritize where our resources are deployed,” ONGC chairman and managing director R.S. Sharma said on Monday over the telephone from New Delhi. “We are studying how best we can develop these fields.” The explorer has put on hold the development of six discoveries in isolated areas because of a lack of infrastructure, the ‘Business Standard’ reported on Monday, citing an unidentified company official.
Rel Power 300MW plant gets financial closure
Mumbai: Reliance Power Ltd’s 300MW power plant, being set up at Butibori in Maharashtra, has achieved financial closure by tying up debt of at least Rs1,500 crore, company spokesmen said. The project is being financed in a debt-to-equity ratio of 80:20. Axis Bank is the lead bank to finance the project, Reliance Power said. Vidarbha Industries Power Ltd, a subsidiary of Reliance Power, is setting up the coal-based power project.